Friday, January 24, 2020

Physics of Cooling Lava :: physics lava volcano

On January 23rd 1973 a new volcano unexpectedly erupted in the Vestmannaeyjar archipelago, southwest of Iceland. The new volcano was a fissure 1.25 miles long and only 1100 yards from the center of town, also named Vestmannaeyjar. The new volcano was named Heimaey. The town was mostly evacuated over the next few days and the lava slowly flowed towards town and the mouth of the harbor for the next seven months. Vestmannaeyjar is the only good harbour in that part of Iceland, and was the base for a large fishing fleet that produces a significant part of Iceland’s GNP. As the lava threatened to overrun the town and close off the harbor, a decision was made to try to slow and divert the lava by cooling it with sea water. The idea was initially scoffed at, but when small initial efforts seemed to have an effect the scale of the operation was increased. Over seven months eight million cubic yards of sea water were pumped onto the lava flow; they cooled 5 million cubic yards of basal t lava to solid rock. The harbor and much of the town survived the eruption, likely as a result of the efforts to cool the lava. Iceland is known for its volcanic activity. A few years before Heimaey erupted; a nearby sub oceanic eruption formed the new island of Surtsey. The town of Vestmannaeyjar already had an extinct volcano on its outskirts, the volcano was known as Helgafell. It was thought to have been extinct for several hundred years. In January 1973 a new fissure opened up a few hundred yards from the extinct volcano. It went clear across the island and into the ocean on both sides. Boats escaping the harbor saw red magma under the water, and sub oceanic power and water lines from the mainland were broken by the eruption. In the initial eruption a curtain of lava 500 feet erupted from the fissure, after a few days the eruption was mostly from a single vent, with a cinder cone 300 feet tall. The lava flows from the eruption were a viscous slow moving basaltic magma. Average speeds for the lava flows were 3 to 9 yards a day. These relatively slow speeds are what made it possible to try and cool and div ert the lava. The lava was initially cooled with fire pumps and hoses, later in the effort large pumps were leased from the US military and several fire fighting boats were used.

Thursday, January 16, 2020

Measuring Respect Essay

Campbell-Ewald, an award winning integrated communications agency, noticed that their customer relationship management (CRM) solutions were not meeting the expectations that they should. In order to gain an understanding of how respect influences customer loyalty and purchasing, they team up with a research company, Synovate and developed three different surveys. The surveys consisted of 27 to 29 attitudinal statements that customer use a 5-point scale to rate. They statements were designed to measure how the customers defined respect and how important respect was in determining a purchase. They selected more than 5,000 customers from each business sectors: insurance, automotive, and retail, and mailed them the survey to complete. The customers they selected to survey were adults at least 18 years of age (Cooper & Schindler, 2011). Once they had received the completed surveys they analyzed the results. They then used the results to validate the relevance of its five â€Å"People Principles†. The five â€Å"People Principles† were: ? Appreciate me ?Intentions don’t matter; actions do ?Listen; then you’ll know what I said. ?It’s about me, not about you. ?Admit it- you goofed! These five â€Å"People Principles† have helped companies like General Motors, Continental Airlines, and Farmers Insurance incorporate respectful behaviors into their business operations (Cooper & Schindler, 2011). When Campbell-Ewald and Synovate developed the surveys they knew that they needed to address respect from all areas such as how a customer ranks respect to loyalty, respect to purchases, respect to continue purchases, and respect to referrals. By gaining a complete overview on how a customer reviews respect then they could develop the five â€Å"People Principles† that their clients could use to improve customer service, increase revenue, gain a competitive advantage, and build a thriving business. Campbell-Ewald knew that their research, findings, and developments would be what would make them successful. By using the numerical scale survey they were placing the same standards on all statements, which make the evaluation process easier. When conducting a survey, the more customers you select to survey will increase the number of responses that a research company will receive back. It is not likely that all 5000 customers responded but I am sure well over 50 percent responded, which gave them a diverse poll of responses. Whereas, if they had chose to survey only 100 customers then they may have received only 30 responses, which is not enough when conducting such research. Using the numerical scale makes tally and measuring the result easier, which will make the comparison easier. Also, by using the numerical scale a research firm eliminates the opportunity for researchers to be swayed by a person comments or opinions, a person either agrees or does not agree with no explanation.

Wednesday, January 8, 2020

Financial Crisis in This Time is Different by Reinhart and...

People always think that the technology renovations, institutional changes and experience gains can make the world emerge from financial crisis saying that this time is different. But they may be too optimistic. The outrageous truth is that each new financial crisis is not predicted or forestalled. As Reinhart and Rogoff said in their book This Time is Different, technology is changing, fashion is changing, but self-deception of governments and investors are not. A banking crisis usually refers to a situation in a general market adjustment when faith in banking institutions falls, and people start trying to move their money to other places for safe keeping. (RationalWiki) If we need to find something in common for all financial crises, that will be excessive build-ups of debt. Excessive debt accumulation makes banking industry more profitable and more stable than it really is and it will easily be ignored at the beginning. However, if the equilibrate has been destroyed, systemic risk will grow and increases more quickly and greater than usual. Cyprus is an island country in the Eastern Mediterranean Sea, which is based on agricultural production and tourism. In the first half of 2003, under the influence of global economic crisis and the European Crisis, the crises of Cyprus struck and caused higher unemployment and lower economic increase. As a country in Eurozone, Cyprus attracted large amount of deposit funding from overseas with its increasing nations creditShow MoreRelatedFinancial Liberalization : Deregulation Of Financial Markets And The Freedom Of Capital Mobility Across Economies2091 Words   |  9 PagesFinancial liberalization involves deregulation of financial markets and the freedom of capital mobility across economies. â€Å"Financial liberalization produces major benefits including more efficient intermediation of financial resources however it does have a ‘dark side’, because it produces a banking system that is more vulnerable to systemic risk† (Arthur Wilmarth Jr 2003). Periods of hig h international capital mobility have repeatedly produced international banking crises. â€Å"Kaminsky and ReinhartRead MoreEight Centuries Of Financial Folly By Carmen M. Reinhart And Kenneth S. Rogoff1727 Words   |  7 PagesThis time is different: Eight Centuries of Financial Folly, written by Carmen M. Reinhart and Kenneth S. Rogoff, was published just before Greece went into crisis. Just as they satiric title illustrated, so most people believe that Greece will never default again because â€Å"this time is different due to the wealthy ally within the EU†, but the Greece crisis came out immediately and strongly prove Reinhart Rogoff’s statement â€Å"this time usually isn’t different and catastrophe eventually strikes again†Read MoreA Study On Financial Crisis1964 Words   |  8 PagesThis-time-is-different syndrome is derived from the attic faith that our country is powerful that we possess advanced financial system, superior policy and policy makers, innovative financial instru-ments. Financial crises are things that happen to other countries at other times; crises do not occur to us at this time at country. Carmen Reinhart and Kenneth Rogoff with their working that provides empirical evidence of the relations among currency, sovereign government defaults , banking crisis, stockRead MoreKindlebergers Crisis : Financial Crisis1385 Words   |  6 PagesKindleberger’s Crisis Financial crises seem foreign to our thinking, something faraway, irrelevant in the context of modern society. But in truth, it is a very real phenomenon that had impeded the progress of nations and, many times, driven their victims toward bankruptcy and financial dependence. For this, its significance calls for analysis, as a means to understanding and, more powerfully, prevention and alleviation. Hence, the subject of this paper is to (1) describe a model, particularly, Minsky’sRead MoreThe Impact Of Public Debt On The Economy798 Words   |  4 Pagesconcern to individuals, governments, investors and the whole body of international organizations as well as financial institutions at large. Especially after the financial crisis of 2008, the impact of public debt on the overall economic growth has being a subject for analysis although not much empirical work has been done. In April 2001, Ghana declared itself as heavily indebted poor country. This declaration was to enable Ghana qualify for the debt relieve assistance program organized by the InternationalRead MoreGlobal Financial Crisis Essay1644 Words   |  7 PagesIssue Due to the effect, of the global financial crisis of 2008-2009, advanced economies have seen a significant increase in public debt. Canada risks a repetition of this experience and prominent voices are calling for an additional round of fiscal austerity. Without enhancement, the problematic habits of Canadian governments, such as deficit spending and growing government debt, bear short- and long-term consequences for the country and its population. The biggest problem in Canada is primarilyRead MoreQuestions On Non Financial Firms1468 Words   |  6 Pages2007-2008 crisis started off in August 2007 as a subprime mortgage crisis primarily concentrated in the United States but quickly metamorphosized into a global financial crisis where financial institutions teeter on the edge of bankruptcy in many countries in addition to the United States. A global economic crisis ensues in which nonfinancial firms around the world appear to spiral downward as well. A key potential contributor to the plight of the non-financial firms is the financial crisis itself,Read MoreGreece Economy After Euro Crisis2275 Words   |  10 PagesGREECE ECONOMY AFTER EURO CRISIS NAME: HARSHITA AGRAWAL CLASS: FYBA ‘C’ ROLL NO.: 325 Introduction Greece is a service sector led economy, which contributes 85%. Industry (12%) and agriculture (3%) are relatively very small. The main industries include tourism and merchant shipping which are more global in nature. Greece as an economy was doing very well until the global economy crashed in 2008 due to â€Å"Global Financial Crisis (GFC)†. During the period of 2001- 2007, Greece was one of the highRead MoreGreece Economy After Euro Crisis2261 Words   |  10 PagesGREECE ECONOMY AFTER EURO CRISIS NAME: HARSHITA AGRAWAL CLASS: FYBA ‘C’ ROLL NO.: 325 Introduction Greece is a service sector led economy, which contributes 85%. Industry (12%) and agriculture (3%) are relatively very small. The main industries include tourism and merchant shipping which are more global in nature. Greece as an economy was doing very well until the global economy crashed in 2008 due to â€Å"Global Financial Crisis (GFC)†. During the period of 2001- 2007, Greece was one ofRead MoreHow Important Was â€Å"Regulatory Capture† in Causing the Global Financial Crisis?1586 Words   |  7 PagesThe purpose of this paper is to show that the â€Å"regulatory capture† has played a role not easily measurable in causing the global financial crisis. To illustrate this, the first step will to describe the â€Å"regulatory capture† in its three possible qualifications; then, I will explain, providing some examples, how each of these categories played a possible role in posing the basis for the financial crisis. While illustrating the different forms of capture I will present some questions that leave space